Flipkart India receives Rs 2,839 Cr from parent firm
by YourStory 2019-12-04
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source: Inc42

Flipkart, India’s leading online marketplace owned by global retailer Walmart, has received its third round of fund infusion of Rs 2838.84 crore this year from its parent company in Singapore.

The fresh infusion of the fund was received by Flipkart India Private Limited, the wholesale B2B division of the marketplace, which will be utilised to strengthen its B2B operations.

According to the regulatory filings, Flipkart received the fund infusion through an allotment of 8,115,761 shares at a premium of Rs 34,799.

In January this year, Flipkart India had raised $200 million, and in September, it had received $225.4 million from its parent firm.

The wholesale arm of Flipkart is the B2B entity of the marketplace where it is the via medium between the manufacturers and sellers on the platform. This model has been adopted by the ecommerce marketplaces in the country.

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